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Elephant, a multi-functional economic platform, has announced the launch of elCoin, the first digital currency immediately available worldwide and based on the Ethereum infrastructure.

Ethereum, the parent system of a new virtual currency, is known for decentralisation of all types of economic activities. It enables creation of software applications that use the technology of the distributed ledger, excluding third parties and reducing expenses for assets, means or data circulation between individuals and companies.

The elCoin currency can construct securities and serve as a digital assets exchange. It is also claimed to function as a business tool for attracting investments and creating new unique exchange instruments.

“When designing and developing Elephant, we tried to take into account all the shortcomings and difficulties that a user faces working with cryptocurrency. We did not aim to create just another cryptocurrency, but our foremost objective was to develop a convenient payment system that has a set of up-to-date, cryptographically secure and user-friendly financial tools”, - said Maxim Levoshyn, the Company’s CEO.

According to the official announcement, in 300 days after the project’s launch the owners of elCoin wallets will be allowed to become bidders to obtain bonus elCoins.

The elCoin can be cashed on various cryptocurrency exchanges and on partner websites of elCoin. It is also compatible with all other types of wallets and projects of Ethereum.

The news of the elCoin cryptocurrency development was announced on the Blockchain Conference held in Kyiv on 19 December 2015.